Norway expected to cut upstream spending

Cuts in Norway’s upstream investment could mean the country’s output will also drop, despite forecasts for record production Cuts in Norway’s upstream investment could mean the country’s output will also drop, despite forecasts for record production.
By Catriona Scott 30 August 2016 0 24428

Market impact:
Bullish for European hub prices

Norway produced a record volume of gas in 2015 and is potentially on course for even higher output this year. However, reductions in upstream investment could limit the country’s production in the future.

Like other oil- and gas-producing countries, Norway has seen its export revenues fall as prices have dropped. This has hit investment, and reductions in spending will be seen this year and next. Investment in oil and gas extraction and pipeline transport is expected to be...

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